RSU Tax paid but not through shares.

[grsharath]

When my RSU were granted, instead of selling shares to pay for the grated stocks, i paid in cash (as in bank transfer) How do I report that I have paid in cash for the stocks granted. Turbotax has an option to specify only the "Shares withheld to pay taxes" but there is no way to specify the taxes paid in other ways

[TomYoung]

"How do I report that I have paid in cash for the stocks granted."

You already have.  The taxes were included on your W-2 in the year the RSU vested and those taxes related to the compensation created by the vesting.  You can't somehow claim those taxes again with the sale of the stock.  The sale of the stock results in capital gain or loss and if you have a capital gain on the sale of the stock you pay the capital gains taxes.

First, understand that if you sold some of the stock acquired via the RSU there absolutely NO "income tax reporting" reason to use the RSU "Guide me step by step" interview to report the sale IF the compensation created buy the vesting was reported on your W-2, and it clearly was. 

Second, understand that entering some some number in that box for shares sold or withheld for taxes doesn't magically create some tax credit somewhere in your income tax return.  Those cash raised from shares sold or withheld for taxes were paid to the government(s) and included on the W-2.  The ONLY thing entering a number in that shares sold or withheld for taxes box does is that the number you entered is subtracted from the gross number of shares granted to come up with an (invisible to you) number of shares available for sale.

Delete the trade that you're working on.  Start over and enter the 1099-B exactly as it reads, wrong basis and all.  Then  click on the "I'll enter additional info on my own" blue button.  On the next page enter the correct basis in the "Corrected cost basis" box.  The correct basis is (number of shares sold) x (correct per share "fair market value" used by the employer to calculate the compensation when the shares vested).

TurboTax will report the sale on Form 8949 "as reported by the broker" but will put an adjustment figure into column (g) of the Form, a code "B" into column (f) of the Form, and the correct amount of gain or loss which includes the adjustment.

If you have a capital gain, (i.e., the share price you sold at was higher than the share price at vesting), then you pay the capital gains tax.

Tom Young

[kpletta1]

I have the same issue where no shares were sold since I paid the taxes due in cash at the time the RSU shares became vested.  Now my W2 has the total value of the shares included in box 1 and in box 14 under code RSUSET but the cash amount I paid to cover the income tax is not listed anywhere?  I have a statement from the brokerage account showing the amount of tax paid but how do I enter it into Turbotax to get credit for it?